Here are Thursday's biggest analyst calls: Apple, Netflix, Nvidia, Meta, Rivian, Costco, Hertz, Microsoft and more

"To be clear, we still like the SCHW story over a multi-year view with eventual tailwinds from cash troughing, getting back to repurchases, and significant back-book repricing, but these catalysts will simply take time to play out, with most of them 2025 events."

"We are incr. our estimates & price target to $560 ($500 prior). We believe Netflix is the main beneficiary as the industry increases prices, consolidates platforms, cuts spend & renews focus on licensing, likely driving upside to estimates & the multiple."

"We upgrade Apple to Buy from Neutral, given: 1) stronger multi-year iPhone upgrade cycle driven by need for the latest hardware to enable Generative AI features to be introduced in 2024/2025 (large part of installed base still on iPhone 11), 2) higher growth in Services as Apple better monetizes its installed base."

"We see the 'Affirm Card' as a game-changer to credit payments and are highly bullish on the opportunity to bring BNPL/hybrid debit/credit to brick and mortar through the card. … HOOD: Share gains in retail trading across products should ensue as improved sentiment benefits equity and options trading."

"As we indicated in the initiation, we believe NVDA is a long-term winner in accelerated computing that can grow at a 20% CAGR off of CY22 revenue."

"We recently named RIVN as one of our Best Ideas for 2024 and see several potential catalysts ahead."

"We are upgrading ADI, NXPI, and MCHP to Outperform from Peer Perform. We have become incrementally more constructive on analog, and we continue to be selectively constructive elsewhere in our coverage."

"RRR is a pure play on the attractive Las Vegas Locals gaming market with an under-appreciated competitive moat and development pipeline that should collectively drive EBITDA growth above regional peers over the short, medium and long term."

"In summary, we expect total revenue growth to accelerate to solid high teens from current mid-teens level in a reasonable upside case."

"MCD: Sizing the Unit Growth Acceleration Lever; EBIT Growth Contribution Poised to Double."

"After a generational performance in 2023, is Meta's stock still a good investment? We
certainly think so."

"We believe the rate of change of top line and margins is declining and believe that at current levels the shares offer an attractive risk/reward ratio. We see various levers/paths for the company to begin its return to a 6% operating margin."

"Although JetBlue and Spirit can still appeal Tuesday's court ruling, which blocked the carriers' proposed merger, it is unclear why JetBlue wouldn't cut its losses here and recognize that it avoided a risky bid on a highly levered carrier with steep losses."

"We are raising our revenue growth estimates this year and next on a better club growth target for F2024 than we had previously modeled and merchandising improvements we're seeing in warehouse clubs."

"TPX has become a dominant operator within the mattress industry, with a multi-year growth outlook that is becoming highly attractive to long-term investors."

"PANW (O, $402 PT, 21% upside) in firewalls and CRWD (O, $334, 17% upside) in endpoint are leaders in maturing categories, pursuing platform expansion into adjacent growth categories."

"We think the current share price is an attractive entry for our upgrade to a Buy rating."

"HOG's sportster category should benefit in 2024 from easy comps as it laps the wind down of legacy models which we estimate accounted for more than half of year-to-date retail unit declines thru November."

"NDAQ is our top 2024 idea in the exchange space because of accelerating organic growth, deleveraging, and attractive valuation. We believe the improving macro backdrop will drive higher spending on anti-financial crime, higher equity markets, and improving IPO market."

"While risks remain, we believe forward estimates have fallen far-enough below our forecast for normalized earnings to drive an upgrade to this strategically consequential rental car giant."

"We reiterate our Buy rating/top pick and are raising our PO to $800 from $750. ServiceNow is a key beneficiary from the three secular themes outlined in our year ahead: AI, Consolidation & Cloud."

"BLK best positioned to capture key growth zones and drive +13% EPS CAGR."

"We expect Pinterest to benefit from its recently announced partnership with Amazon and expanded advertiser base."

"We expect Subscription revenue growth to accelerate into the low teens in the coming years with continued margin expansion, driven by (1) unparalleled access to trusted customer data helping to unlock the potential for generative AI, (2) pricing and packaging levers, (3) improving execution."

"In our view, financial results in 1H24 are likely to drive positive revisions in near-term earnings expectations with ongoing industry growth, easing competition and rationalization in delivery industry. We upgrade GRAB to OW."